Colonial First State gets Lonsec upgrade

According to a statement, the FirstChoice multi-sector funds and underlying multi-manager single-sector portfolios intend to benefit investors by providing them with a “wide selection of risk-return investment solutions, with the added benefits of diversification, value and convenience”.

The portfolios are constructed, managed and continually monitored by Colonial First State’s in-house investments management team, the statement said, who use their skills and global resources to seek out fund managers, from specialist boutique managers to leading industry names.

Lonsec said it considered these funds to be suitable for those seeking a stable multi-manager style product backed by appropriate systems and governance in place to oversee manager selection, composition and performance monitoring.   

It also noted the stability of a fully resourced investments team, the statement said.

Colonial First State executive manager, investments, Peter Dymond, said, “Advisers should take comfort in the stability of the organisation and the team which has managed these multi-sector portfolios for close to 15 years since FirstChoice was launched in 2002.

“The FirstChoice multi-sector portfolios and underlying multi-manager single-sector portfolios continue to provide an efficient way for advisers to deliver healthy investment returns to investors.”